Dem Budget Includes $1.5 Trillion in Tax Hikes
8:19 PM, Mar 13, 2013 • By DANIEL HALPER
The Republican side of the Senate Budget Committee claims the budget released today by Senate Democrats will raise taxes by $1.5 trillion. Before being released today, it had been reported that the Democrats' budget would raise taxes by $1 trillion, but number appears to have been far enough.
The minority side of the Senate Budget Committee releases this chart to back up its claim:
The numbers refer to a PDF version of the budget released by Budget chair Patty Murray just a couple hours ago.
"For two days, through leaked talking points and in today’s budget committee round of opening statements, Patty Murray suggested her budget had $975 in revenue," writes a Senate Budget Committee staffer from the Republican side. "Turns out that’s just not so. The below table shows where in the attached document you’ll find a number of proposed tax hikes, for a total of $1.5 trillion. Further, in today’s hearing Murray stated that the tax hikes are closing 'loopholes' that 'mainly benefit the well-off and well-connected.' Mainly? What does that mean?"
Another Republican Senate Budget aide explains. "The Senate Democrats’ budget claims to increase taxes $975B over the next ten years. They are actually hiding an additional $500 billion in tax proposals buried in their 113 page budget document ('Restoring the Promise of American Opportunity')."
The aide goes on: